The increase in real estate prices in 2023 continued at an accelerated rate.

According to data from the Bank of Greece, in 2023, apartment prices increased at an average annual rate of 13.4%, compared to an increase of 11.9% in 2022.

More specifically, the price increase in the second quarter of 2023 compared to the corresponding quarter of 2022 was 11.0% for new apartments, i.e. up to 5 years old, and 12.4% for old apartments, i.e. over 5 years old.

For 2023, the average annual rate of price growth for new apartments was 12.4%, compared to a growth rate of 12.5% in 2022, while the average annual rate of growth for old apartments was 14.2% in 2023, compared to a growth rate of 11.6% in 2022.

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An analysis of the data by geographical area shows that the increase in apartment prices in the second quarter of 2023 compared to the corresponding quarter of 2022 was 10.8% in Athens, 14.6% in Thessaloniki, 13.9% in other major cities and 11.2% in other regions of the country.

For the whole of 2023, the price increase in the same regions compared to 2022 was 13.7%, 16.2%, 14.5% and 10.8% respectively.

Finally, for all urban areas of the country, in the second quarter of 2023, apartment prices were up an average of 12.1% compared to the second quarter of 2022, while for 2023 the average annual increase was 13.9%.